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Disclosure of Ultimate Beneficial Owner information

Beneficial Owner information

The Ministry of Industry, Commerce and Tourism (MOICT) notified about disclosing the information of the Ultimate Beneficial Owner/s.

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Partner, Head of Tax and Corporate Services

KPMG in Bahrain

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Effective from 21 June 2018, all Commercial Registration (CR) holders in the Kingdom of Bahrain are required to disclose the information of the Ultimate Beneficial Owner (UBO) for each corporate shareholders via the MOICT’s online portal (Sijilat). The UBO is a natural person who ultimately owns or controls a CR, and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a legal person or arrangement and have a control on any CR through means other than ownership.

To learn more, please download the full report.

 

 

 

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